Legrand tops CAC40 after Q1 data centres-driven beat

Shares in Legrand LEGD.PA rise about 2.5%, topping France's CAC40 blue-chip index .FCHI, after the French electrical and digital building infrastructure group reported Q1 results above expectations

Q1 sales grew 7.6% organically to 2.28 billion euros ($2.59 billion), above consensus of +4.9% to 2.24 billion euros

J.P.Morgan flags the strongest performance in North America, which grows 18.8% vs consensus of 8.5%, helped by a very strong data centres performance

Monrningstar analyst Matthew Donen echoes these comments attributing the beat to the data centres offering

The rise adds about 600 million euros to Legrand's market cap which stood at 25.74 billion at Tuesday's closing

($1 = 0.8799 euros)